Little Transparency in Central American Budgets

The Open Budget Index 2008 examines and compares the budget transparency of 85 governments, including Central America.

Wednesday, March 4, 2009

The index is prepared by the International Budget Partnership (IBP) and the best placed Central American countries (Costa Rica and Guatemala) obtained only 45 out of 100 possible points. El Salvador followed with 37 and then Nicaragua and Honduras with less than 20 points.

The article in indicated that, "The low ratings for all Central American countries reflect, first of all, a limited public access to timely information and spaces which enable them to participate meaningfully in the budgetary process and accountability reports to the government. Also, with the exception of Costa Rica and Panama, the weakness of the supervisory public institutions or comptrollers is an obstacle to fiscal transparency. "

More on this topic

Standard & Poor's rates Nicaragua with B+

February 2016

The sovereign rating B + with stable outlook is based on the "economic performance, low debt burden of the government, political stability and partnership between government and the private sector through dialogue".

From a statement issued by the Central Bank of Nicaragua:

Costa Rica and Guatemala Are Not "Transparent"

April 2012

The OECD has included both countries in the list of countries that do not meet global standards on transparency in fiscal reporting.

Although the signing of the minimum number of bilateral tax information exchange agreements has allowed countries such as Costa Rica and Uruguay to leave the ‘gray list’ maintained by the Organization for Economic Cooperation and Development, now the challenge is to pass the scrutiny of filters detecting whether local regulations are effective in allowing tax information to be provided in a transparent manner.

Corruption Getting Worse in Central America

December 2011

With the exception of Honduras, which reported a slight improvement, all countries in the region reported significant drops in the new edition of the Corruption Perception Index, by Transparency International.

In 2011 Costa Rica remained the best positioned in Central America, but fell from position 41 to 50, followed by El Salvador, which fell from 73 to 80, Panama (73 to 86), Guatemala (91 to 120) , Honduras (climbed from 134 to 129) and Nicaragua (dropped from 127 to 134).

Nicaragua: $ 10 Million to Improve Financial Management

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The World Bank approved a technical assistance loan for the Plan of Modernization of Public Financial Management.

The project will be carried out with the support of the Inter-American Development Bank (IDB), the European Commission and the Kingdom of Netherlands, aiming at improving the accountability process.

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